SKC "We Will Transform Our Corporate Identity into a Green Mobility Specialist"

[Asia Economy Reporter Hwang Yoon-joo] SKC is transforming its corporate identity into a 'Green Mobility Materials and Components Specialist Company.'

On the morning of the 30th, at the 48th regular shareholders' meeting held on the 6th floor of SKC headquarters in Jongno-gu, Seoul, SKC President Lee Wan-jae stated, "We will innovate governance beyond global standards and change SKC's identity."

SKC has been actively pursuing business model innovation, including strengthening growth engines through the acquisition of the copper foil business, a core material for electric vehicle batteries. As a result, despite COVID-19 last year, sales grew 14.4% year-on-year to KRW 2.7022 trillion, and operating profit increased by 36.5% to KRW 190.8 billion.

President Lee said, "We will not be complacent with the success of the first deep change but will challenge the second deep change toward a bigger dream to dramatically enhance corporate value," presenting three growth strategies.

First, SKC will completely transform its corporate identity into a 'Green Mobility Materials and Components Specialist Company.' The copper foil business will secure global top market dominance through domestic and overseas expansions and continue exploring entry into new green mobility materials businesses.

The chemical and industrial materials businesses will upgrade their business models centered on ESG to seek transformation into a sustainable business structure. The industrial materials business will focus on high-tech IT and eco-friendly sectors, while the chemical business plans to significantly increase the proportion of materials for food and beverages, pharmaceuticals, and personal hygiene, aiming to lead unprecedented changes in the chemical industry.

At the same time, SKC, aiming to grow together with the world, set long-term goals of carbon emissions and plastic net zero. It plans to expand carbon emission reduction material businesses such as smart window films, implement RE100 as a basic standard at new business sites to reduce carbon emissions, and actively promote biodegradable materials and recycling businesses.

At the shareholders' meeting, a partial amendment to the articles of incorporation, including grounds for governance innovation, was passed as originally proposed. This will accelerate the strong governance innovation beyond global standards emphasized by SKC.

Recently, SKC announced governance innovation measures to strengthen the independence and authority of the board of directors and increase transparency. The key points include establishing ESG, personnel, and internal transaction committees within the board and appointing all committee chairs as outside directors, significantly expanding outside director participation within the board. SKC also plans to establish and announce a governance charter reflecting the company's commitment to transparent and sound governance.

All other agenda items were also passed as originally proposed. These included the appointment of outside directors, appointment of audit committee members, approval of stock option grants, approval of the 48th fiscal year financial statements, and approval of the director remuneration limit.

This content was produced with the assistance of AI translation services.